This circular is issued in exercise of the powers conferred under section 11 of the Securities and Exchange Board of India Act, 1992, read with regulation 100 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009.
Under the extant Rupee Drawing Arrangements (RDAs), cross-border inward remittances are received in India by AD Category-I banks through Exchange Houses situated in Gulf countries, Hong Kong, Singapore and Malaysia (for Malaysia only under Speed Remittance Procedure). With a view to extending the scope of the said arrangement to certain other jurisdictions, it has been decided to extend the RDAs only under the Speed Remittance Procedure to Exchange Houses situated in all countries which are FATF compliant.
Policy Circular No.9/2009-14 dated 1.10.2009 had clarified that supply of goods against Advance Release Order (ARO) is eligible for refund of duty drawback only and not for Terminal Excise Duty (TED) and supplies against invalidation letter is eligible for Advance Authorisation and TED refund.
Gold related instruments – Regulation 2(mc) of MF Regulations stipulates that gold related instruments are such instruments having gold as underlying, as are specified by SEBI from time to time.
The issue of extending call auction mechanism in pre-open session to all scrips was deliberated in Secondary Market Advisory Committee (SMAC). SMAC also made recommendation on introduction of trading through periodic call auction mechanism for illiquid scrips in the equity market. Accordingly, it has been decided to implement following:
Time limit to file the financial statements in the XBRL mode without any additional fee/penalty has been extended up to 28th February, 2013 or within 30 days from the due date of AGM of the company, whichever is later.
The amount deposited or invested, as the case may be, above shall not be utilized for any purpose other than for the repayment of debentures maturing during the year referred to above, provided that the amount remaining deposited or invested, as the case may be, shall not at any time fall below 15 per cent of the amount of debentures maturing during the 31St day of March of that year.
Authorised banks would be permitted to open NRO account of individual/s of Bangladesh nationality without the approval of the Reserve Bank subject to the following conditions:
I am directed to convey that the Hon’ble Finance Minister has expressed serious concern about drafting of ‘Substantial Question of Law’ in the proposals to file SLP. He has also expressed dissatisfaction over lack of assistance to the Law officers/appearing counsels by field officers.
The Exchange must have systems and defined procedures in place to monitor collusion between trading members indulging in trades solely for seeking incentives and prevent payment of incentives in such cases.
